RWC Asset Management LLP Invests $9.85 Million in Talen Energy Corporation (NASDAQ:TLN)

Key Points

• RWC Asset Management LLP acquired a new position in Talen Energy Corporation, purchasing 49,304 shares valued at approximately $9.8 million, which represents about 0.11% ownership of the company.
• Major shareholder Rubric Capital Management sold 178,000 shares at an average price of $296.04, resulting in a 3.01% decrease in their position.
• Several analysts have upgraded their ratings on Talen Energy, with target prices ranging from $292.58 to $380.00, indicating a consensus average rating of "Moderate Buy."

RWC Asset Management LLP acquired a new position in Talen Energy Corporation (NASDAQ:TLN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 49,304 shares of the utilities provider's stock, valued at approximately $9,845,000. RWC Asset Management LLP owned approximately 0.11% of Talen Energy at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TLN. Commonwealth Equity Services LLC acquired a new position in shares of Talen Energy during the fourth quarter valued at about $201,000. Teacher Retirement System of Texas acquired a new position in shares of Talen Energy during the fourth quarter valued at about $409,000. Sei Investments Co. raised its position in shares of Talen Energy by 109.4% during the fourth quarter. Sei Investments Co. now owns 59,686 shares of the utilities provider's stock valued at $12,024,000 after buying an additional 31,180 shares during the last quarter. LPL Financial LLC raised its position in shares of Talen Energy by 234.9% during the fourth quarter. LPL Financial LLC now owns 23,490 shares of the utilities provider's stock valued at $4,733,000 after buying an additional 16,476 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Talen Energy by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 4,786,331 shares of the utilities provider's stock worth $964,302,000 after purchasing an additional 256,414 shares in the last quarter. 0.38% of the stock is currently owned by institutional investors.

Talen Energy Stock Up 3.5%

Shares of TLN traded up $12.15 during trading hours on Monday, reaching $358.77. 1,246,579 shares of the stock traded hands, compared to its average volume of 1,293,774. The company has a current ratio of 1.62, a quick ratio of 1.20 and a debt-to-equity ratio of 2.52. The stock has a fifty day simple moving average of $276.06 and a 200 day simple moving average of $236.54. Talen Energy Corporation has a 52 week low of $98.50 and a 52 week high of $359.24. The company has a market cap of $16.33 billion, a price-to-earnings ratio of 37.26 and a beta of 1.85.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.17 by ($0.35). The company had revenue of $390.00 million for the quarter, compared to analysts' expectations of $556.93 million. Talen Energy had a return on equity of 11.47% and a net margin of 28.51%. On average, equities analysts forecast that Talen Energy Corporation will post 15.94 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the business's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the completion of the transaction, the insider owned 5,734,970 shares of the company's stock, valued at approximately $1,697,780,518.80. The trade was a 3.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 388,530 shares of company stock worth $114,090,933 over the last three months.

Analyst Upgrades and Downgrades

TLN has been the subject of several recent research reports. UBS Group set a $431.00 price target on shares of Talen Energy and gave the stock a "buy" rating in a research report on Friday. Morgan Stanley increased their price target on shares of Talen Energy from $300.00 to $330.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Oppenheimer set a $315.00 price objective on shares of Talen Energy and gave the stock an "outperform" rating in a research note on Friday, July 11th. Susquehanna reaffirmed an "overweight" rating on shares of Talen Energy in a research note on Thursday, June 12th. Finally, Wall Street Zen raised shares of Talen Energy from a "sell" rating to a "hold" rating in a research note on Saturday. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $292.58.

Talen Energy Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.